I like my support/resistance lines on the body of the candles, not wicks. We are sitting below 2 resistance lines if that is the case. Interesting to think we might have broken out of a descending triangle, but down and now come back up to meet it. Updated - And look at the negative volume divergences (2) with an up price. That had been a good reversal indicator, but not lately. Also, topping out on RSI.
That's an interesting chart. $100 is definitely a key battle ground and it has psychological meaning.
The last bear run broke $100 after the first two tests (May and June) held. Previous support levels often become new levels of resistance.
Compound with the highs getting gradually lower (about 155, 135, 115), with this final high barely breaking $100 and it paints an interesting picture.
Unless something big happens in the coming week to vault us cleanly over $100, I suspect breaching $100 again for any extended period will be unlikely for quite some time.
I like that stochastic.